Amgen (NASDAQ:AMGN) Releases Quarterly Earnings Results, Beats Expectations By $0.25 EPS

Amgen (NASDAQ:AMGNGet Rating) released its quarterly earnings data on Thursday. The medical research company reported $4.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.40 by $0.25, Briefing.com reports. Amgen had a return on equity of 188.78% and a net margin of 24.92%. The firm had revenue of $6.59 billion during the quarter, compared to analysts’ expectations of $6.53 billion. During the same quarter last year, the firm earned $4.38 earnings per share. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. Amgen updated its FY22 guidance to $17.00 to $18.00 EPS and its FY 2022 guidance to $17.00-$18.00 EPS.

Amgen Stock Performance

NASDAQ:AMGN traded down $0.73 during trading hours on Friday, hitting $246.25. 2,723,887 shares of the company traded hands, compared to its average volume of 2,398,663. The company has a current ratio of 1.44, a quick ratio of 1.09 and a debt-to-equity ratio of 39.31. Amgen has a twelve month low of $198.64 and a twelve month high of $258.45. The firm has a 50-day moving average of $245.14 and a 200 day moving average of $239.83. The stock has a market capitalization of $131.55 billion, a price-to-earnings ratio of 20.87, a P/E/G ratio of 2.04 and a beta of 0.56.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 8th. Investors of record on Thursday, August 18th will be given a dividend of $1.94 per share. This represents a $7.76 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date is Wednesday, August 17th. Amgen’s dividend payout ratio (DPR) is currently 65.76%.

Insiders Place Their Bets

In other news, Director R Sanders Williams sold 600 shares of the company’s stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $250.00, for a total transaction of $150,000.00. Following the completion of the transaction, the director now owns 5,501 shares of the company’s stock, valued at $1,375,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director R Sanders Williams sold 600 shares of Amgen stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $250.00, for a total transaction of $150,000.00. Following the sale, the director now owns 5,501 shares of the company’s stock, valued at approximately $1,375,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jonathan P. Graham sold 13,500 shares of Amgen stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $241.81, for a total value of $3,264,435.00. Following the sale, the executive vice president now directly owns 37,333 shares in the company, valued at approximately $9,027,492.73. The disclosure for this sale can be found here. Company insiders own 0.46% of the company’s stock.

Institutional Trading of Amgen

Several institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. boosted its stake in Amgen by 1.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 8,819,690 shares of the medical research company’s stock valued at $2,132,778,000 after buying an additional 94,565 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Amgen by 164.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,337,970 shares of the medical research company’s stock valued at $323,548,000 after buying an additional 832,885 shares in the last quarter. Ensign Peak Advisors Inc boosted its stake in Amgen by 33.3% in the 1st quarter. Ensign Peak Advisors Inc now owns 236,710 shares of the medical research company’s stock valued at $57,241,000 after buying an additional 59,155 shares in the last quarter. Cowa LLC raised its position in Amgen by 11,454.5% in the 1st quarter. Cowa LLC now owns 230,512 shares of the medical research company’s stock valued at $557,000 after purchasing an additional 228,517 shares during the last quarter. Finally, Edgar Lomax Co. VA raised its position in Amgen by 54.3% in the 1st quarter. Edgar Lomax Co. VA now owns 215,545 shares of the medical research company’s stock valued at $52,123,000 after purchasing an additional 75,885 shares during the last quarter. Institutional investors and hedge funds own 79.01% of the company’s stock.

Analyst Upgrades and Downgrades

AMGN has been the subject of several research reports. Oppenheimer reiterated an “outperform” rating and set a $290.00 price target on shares of Amgen in a report on Friday, June 24th. StockNews.com raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research report on Monday, May 16th. Mizuho increased their price target on shares of Amgen from $202.00 to $208.00 in a research note on Tuesday, May 10th. Barclays lifted their price objective on shares of Amgen from $233.00 to $236.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 12th. Finally, Royal Bank of Canada increased their target price on shares of Amgen from $224.00 to $236.00 in a research report on Friday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $250.00.

Amgen Company Profile

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Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Beh├žet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.

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Earnings History for Amgen (NASDAQ:AMGN)

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